Youtuber Mateus Rapini, who brings information to the Brazilian cryptocurrency market, revealed why he ended his contract with the lender BlockFi, another one that expired in recent days.
Over a period of several months, Mateus entered into a partnership agreement with the company. According to him, BlockFi conveyed credibility by respecting regulations in the United States.
In addition, the Brazilian youtuber recalled that the company was licensed to operate in several US states. When Terra (LUNA) collapsed, the market began to distrust BlockFi.
Brazilian Crypto Youtuber Says BlockFi Was A Terrible Collaboration Experience
Mateus Rapini is one of the largest cryptocurrency YouTubers in Brazil, with over 400,000 followers.
On his channel, he tries to present his videos in a relaxed manner alongside macroeconomics content that can impact the industry.
Rapini recalled what may be her biggest sponsorship regret in her life, involving BlockFi. In a video released last Wednesday (16), the youtuber recalled revealing the company in 70 videos, which exuded credibility.
Since June, when the Earth fell, Mateus realized that BlockFi’s model was high risk. At that point, he immediately terminated his contract with the company and issued a series of warnings.
According to the businessman, several of his customers saw the notification and were able to withdraw the amounts from the platform. Yet he believes that “advertising cryptocurrency activities is a risky business that can tarnish a youtuber’s reputation🇧🇷
After the negative experience with BlockFi, Mateus Rapini stated that he will no longer promote any cryptocurrency company because “none of them deserve to be recommended”.
coup against canal
Besides the cost of reputation, Mateus Rapini said he struggled to help his followers withdraw the cryptocurrencies they deposited on the platform.
However, he still had 70 videos of content promoting the company. According to contract, he confessed that he could not just cut the moments of the revelations, so he had to delete all the videos.
The problem with deleting 70 videos was losing relevance on YouTube. According to the Brazilian youtuber, he averaged 1 million views per month, which dropped to just 300,000 after the episode.
“If I could go back in time and I couldn’t accept BlockFi sponsorship, or even sponsorship from cryptocurrency companies, I definitely would. Because the reputational risk for a channel is far greater than any financial return. I can’t change the past but i want to reiterate i’ve always had a motto never advertise a company i don’t use either as blockfi turned out to be risky i stopped using the company and brought the channel 5 months in advance of the problem.”
On November 11, BlockFi froze recordings for its customers, claiming it was unable to maintain its services.
On FTX, the Brazilian youtuber said he was also affected and lost a value with the brokerage. Since companies are not trusted, he will therefore not advertise a company again until the entire market has been checked.
Source: Live Coins
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
